UPI MDR from 15 October: RBI Governor says small fee unlikely to hit transaction volumes

The Unified Payments Interface (UPI) Merchant Discount Rate (MDR) has come into effect from 15 October for select merchant transactions above ₹2,000. Reserve Bank of India (RBI) Governor Sanjay Malhotra has stated that he does not anticipate this small fee to significantly impact UPI transaction volumes, and consumers will not be charged.